Immunology deals with the immune system of the human body and its response to foreign substances like bacteria and viruses. It helps in understanding various disorders related to the immune system like cancer, autoimmune diseases, immunodeficiencies, etc. Continuous research and development in immunology has led to development of several treatment options like monoclonal antibodies, vaccines, and other immunotherapies. Advancements in immunotherapy and targeted therapy have accelerated the growth of immunology significantly over the past decade.
The global Immunology Market is estimated to be valued at US$ 107133.84 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increase in research funding for immunology has driven innovation and development of new treatment options. For example, the National Institute of Allergy and Infectious Diseases in the U.S. provided funding worth $5.6 billion in 2019 for research related to immunology. This funding has led to advancements such as development of monoclonal antibodies for conditions like rheumatoid arthritis, cancer, etc. It has also supported research on immunotherapies using platform technologies like gene therapy, cell therapy and others. Rising funding for immunology research is expected to introduce more effective treatments and drive the market growth over the forecast period.
Segment Analysis
The global immunology market is segmented on the basis of product into monoclonal antibodies, infusion pumps, and consumables. Among these, the monoclonal antibodies segment held the largest market share in 2023. Monoclonal antibodies have wide applications in various therapeutic areas such as oncology, hematology, and inflammation. They also have less toxicity and act as an effective treatment for various diseases. The increasing approvals and launch of monoclonal antibodies for numerous diseases are fueling the growth of this segment.
Key Takeaways
The Global Immunology Market Demand is estimated to be valued at US$ 107133.84 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030.
Regional analysis:
North America held the largest share of the global immunology market in 2023. The growth in this region is attributed to the rising prevalence of immunological disorders, increasing healthcare spending, presence of advanced healthcare infrastructure, and presence of key players. Asia Pacific is projected to witness the fastest growth during the forecast period owing to increasing healthcare awareness and expenditure, growing geriatric population, and rising government initiatives to improve healthcare facilities in emerging countries.
Key players:
Key players operating in the immunology market are Production I.G, Inc., Studio Ghibli, Inc., Pierrot Co., Ltd., Sunrise Inc., Toei Animation Co., Ltd., BONES INC, Kyoto Animation Co.,Ltd., MADHOUSE Inc., Manglobe Inc., and PAWORKS Co., Ltd. Production I.G, Inc. is one of the leading animation studios in Japan focused on producing high-quality animation content. The company has produced popular animes such as Ghost in the Shell and Psycho-Pass.
Partnerships and acquisitions:
The global immunology market has witnessed several mergers and acquisitions in recent years which are expected to boost the market growth. For instance, in January 2023, Kyoto Animation Co., Ltd. announced the acquisition of MAPPA to expand its production capabilities and create high-quality animation content. Such initiatives by key players are expanding their capabilities to cater to the increasing demand.
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